Includes Bulgaria real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Bulgaria economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Bulgaria best banks and safest banks are also available.
Basic Information
Government Type: Parliamentary republic
Capital City: Sofia
GDP & Economic Information
Macroeconomy & Sovereign Data
| Central Bank | Bulgarian National Bank |
|---|---|
| Currency | Leva (BGN) |
| International Reserves |
USD 39.19 billion (2021) International Monetary Fund (IMF), data retrieved January 2022 |
| Gross Domestic Product – GDP |
USD 77.91 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
| GDP (Purchasing Power Parity) |
USD 177.70 billion (2021 estimate) IMF – World Economic Outlook, October 20 |
GDP Data
| Real GDP growth |
2017 3.5% 2018 3.1% 2019 3.7% 2020* –4.2% 2021* 4.5% *Estimate |
|---|---|
| GDP per capita – current prices | USD 11,331.87 (2021 estimate) |
| GDP per capita – PPP | USD 25,846.68 (2021 estimate) |
| GDP (PPP) – share of world total | 0.12% (2021 estimate) |
| GDP – composition by sector |
agriculture: 3.4% industry: 23.0% services: 60.2% (2018 estimate) |
| Gross domestic expenditure on R&D; (% of GDP) | N/A |
| Inflation |
2017 6.2% 2018 5.3% 2019 4.3% 2020* 1.2% 2021* 2.1% *Estimate |
Bulgaria
Economics, Policy & Regulation
Executive Insights: Bulgaria National Bank Governor Dimitar Radev
Emerging & Frontier Markets
Bulgaria: Striking A BalanceInflation & Debt
| Inflation |
2017 6.2% 2018 5.3% 2019 4.3% 2020* 1.2% 2021* 2.1% *Estimate |
|---|---|
| Government Bond Ratings |
Standard & Poor’s: BBB– Moody’s: Baa1 Standard & Poor’s / Moody’s (January 2022) |
| Unemployment rate |
2017 23% 2018 20.1% 2019 18.4% 2020* 23.6% 2021* 25% *Estimate |
| Household saving rates | N/A |
| Public debt (General government gross debt as a % of GDP) |
2017 1.2% 2018 0.3% 2019 –0.8% 2020* –2.9% 2021* –3.6% *Estimate |
| Public deficit (General government net lending/borrowing as a % of GDP) |
2017 3.8% 2018 4.1% 2019 2.2% 2019 0.1% 2020* –3.3% 2021* 5.3% *Estimate |
| Market value of publicly traded shares | USD 17.7 billion (2020) |
| Largest Companies | N/A |
Import/Export
| Exports as percent of GDP (Exports of goods and services) |
55.3% (2020) |
|---|---|
| Shares in world total merchandising export |
0.18% (2020) |
| Shares in world total commercial services export | 0.2% (2020) |
| Total exports |
USD 39.2 billion (2020 estimate) |
| Export commodities | Refined petroleum, packaged medicines, copper, wheat, electricity (2019) |
| Total imports | USD 38 billion (2020 estimate) |
| Import commodities | Crude petroleum, copper, cars, packaged medicines, refined petroleum (2019) |
| Exports – major partners |
Germany 16%, Romania 8%, Italy 7%, Turkey 7%, Greece 6% (2019) |
| Imports – major partners | Germany 11%, Russia 9%, Italy 7%, Romania 7%, Turkey 7% (2019) |
Competitiveness & Trade
| Current account balance |
USD 0.4 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
|---|---|
| Current account balance by percentage of GDP |
0.52% (2021 estimate) IMF – World Economic Outlook, October 2021 |
| FDI inflows |
2018 USD 1.1 million 2019 USD 1.7 million 2020 USD 2.4 million |
| FDI Outflows |
2018 USD 249 million 2019 USD 420 million 2020 USD 204 million |
| Value of cross-border M&A, by country of purchaser |
2018 USD 34 million 2019 N/A 2020 USD 94 million 2021 2.7 million |
| Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
| Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
| Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 61 out of 190 countries Subcategories: Starting a Business: 113 out of 190 countries Dealing with Construction Permits: 43 out of 190 countries Getting Electricity: 151 out of 190 countries Registering Property: 66 out of 190 countries Getting Credit: 67 out of 190 countries Protecting Minority Investors: 25 out of 190 countries Paying Taxes: 97 out of 190 countries Trading across Borders: 21 out of 190 countries Enforcing Contracts: 42 out of 190 countries Resolving Insolvency: 61 out of 190 countries World Bank – Doing Business 2020 |
| Global competitiveness ranking |
49 out of 141 countries (2019) |
| Index of Economic Freedom |
Ranking: 29 / Score: 71 (Mostly Free) The Heritage Foundation – 2022 Index of Economic Freedom |
Population & Geographic Data
| Total Area |
110,879 sq km |
|---|---|
| Total Population |
1990 8.72 million 2000 8.17 million 2010 7.4 million 2015 7.18 million 2020 6.93 million |
| Urban population as % of total population |
1960 37.1% 1980 62.1% 2000 68.9% 2020 75.7% |
| Population median age |
43.7 years CIA World Factbook / Population median age |
| Population growth rate | -0.67% (2022 est.) |
| Life expectancy |
75.6 years CIA World Factbook / Life expectancy |
| % of population living on less than $3.10 a day | 2.6% (last available estimate, 2019) |
| Inequality of wealth distribution (Gini index) | 40.3 (last available estimate, 2019) |
| Freedom House rating |
Total score: 79/100 Status: Free Political Rights: 33/40 Civil Liberties: 46/60 (2022) |
| Total telephone subscribers as % of population |
Fixed: 12.6% Mobile: 114.4% (2020) (fixed-telephone subscribers and mobile-cellular subscribers |
| Internet users as % of total population | 70.2% (2020) |
Language & Religon
| Languages | Bulgarian (official) 76.8%, Turkish 8.2%, Romani 3.8%, other 0.7%, unspecified 10.5% (2011 est.) |
|---|---|
| Literacy |
Total population: 98.4% Male: 98.7% Female: 98.1% (2015) Definition: age 15 and over can read and write |
| Religions | Eastern Orthodox 59.4%, Muslim 7.8%, other (including Catholic, Protestant, Armenian Apostolic Orthodox, and Jewish) 1.7%, none 3.7%, unspecified 27.4% (2011 est.) |
World Rankings
| Population | 6.93 million |
|---|---|
| Mercer Cost of living index | N/A |
| C02 Emissions per capita |
5.9 metric tons per capita (2018) |
Global Finance Rankings & Awards: Bulgaria
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000